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Abrado Wellbore Services Buys Specialty Tool Lines from Deltide Energy Services.

MANews-(C)2009-2016

23 June 2016 - US-based specialist in wellbore cleanout and video diagnostics services Abrado Wellbore Services has acquired the specialty tool product lines of Deltide Energy Services, LLC, the company said.

Terms of the deal were not disclosed.

The acquisition results in Abrado taking full ownership of Deltide's proprietary Medusa section milling technology, its Rattler suite of downhole magnets, it's Mud Viper surface ditch magnets and suite of fishing tool services, all of which complement Abrado's existing proprietary downhole video services, suite of wellbore cleanout tools and displacement chemicals.

Abrado Wellbore Services has developed a wellbore cleanout and wellbore diagnostics/validation business model that is unique to the industry.

The company specialises in downhole cleanout tools, chemical displacement services and "onboard" video-based diagnostic technology services targeted to the offshore and deepwater oil and gas business.

Deltide is a provider of specialty downhole tools, services and technologies for well abandonment, workovers and completions.

Country: USA

Sector: Petroleum/Natural Gas/Coal

Target: Deltide Energy Services/specialty tool product lines

Buyer: Abrado Wellbore Services

Vendor: Deltide Energy Services

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Jun 23, 2016
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